Economists Salary in Massachusetts: Cost of Living Adjusted (2024)

What does a Economists salary really buy you in Massachusetts?

Massachusetts is 9.4% pricier than the US average

Data: BLS OEWS 2024 + BEA Regional Price Parities 2022 • Updated 2026-03-31

Nominal Salary

$103,170

Median annual (2024)

→ -8.6%

Real Purchasing Power

$94,305

COL-adjusted (RPP=109.4)

Massachusetts Cost of Living Index

Massachusetts's Regional Price Parity (RPP) is 109.4, meaning prices are 9.4% higher the national average. A Economists earning $103,170 in Massachusetts has the equivalent purchasing power of $94,305 in an average-cost US state.

MA: 109.4

Cheapest (~85) US Avg (100) Priciest (~115)

Key Insight

While $103,170 sounds high, Massachusetts's elevated cost of living erases 9% of that salary's purchasing power. Your real buying power is $94,305. Consider whether the higher pay offsets the higher costs.

Best States for Economists (After Cost of Living)

Where does Economists salary stretch the furthest? Top 10 states ranked by COL-adjusted median salary.

1. Virginia

$144,965

RPP 102.1

2. Georgia

$132,797

RPP 95.8

3. New York

$132,249

RPP 107.6

4. Maryland

$131,057

RPP 105.0

5. Ohio

$128,688

RPP 91.5

6. Kansas

$127,888

RPP 90.0

7. Missouri

$126,805

RPP 91.1

8. Tennessee

$120,174

RPP 91.8

9. North Carolina

$118,651

RPP 94.2

10. Pennsylvania

$117,775

RPP 96.2

Massachusetts ranks #26 out of 39 states for Economists after cost-of-living adjustment.

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Frequently Asked Questions

What is the real salary for a Economists in Massachusetts after cost of living?

A Economists in Massachusetts earns a median salary of $103,170 per year. After adjusting for Massachusetts's cost of living (RPP=109.4), the real purchasing power is $94,305 — a -8.6% difference.

Is Massachusetts expensive to live in?

Massachusetts's cost of living is 9.4% higher than the national average according to the BEA Regional Price Parities (2022). The RPP index for Massachusetts is 109.4 (US average = 100).

What are Regional Price Parities (RPP)?

Regional Price Parities (RPPs) are price indexes published by the U.S. Bureau of Economic Analysis (BEA) that measure differences in price levels across states. They are expressed as a percentage of the national average (US = 100). Higher RPP means higher cost of living.

How is the cost-of-living adjusted salary calculated?

The adjusted salary is calculated as: Nominal Salary x (100 / RPP). For a Economists in Massachusetts: $103,170 x (100 / 109.4) = $94,305. This represents what the salary would be worth in a state with average living costs.

Does the high cost of living in Massachusetts offset the salary?

Partially — a Economists's nominal salary of $103,170 in Massachusetts has 8.6% less purchasing power due to higher living costs. The real value is $94,305. However, Massachusetts may offer better career opportunities, networking, and industry access.